Which of the following is not true regarding consolidations under IFRS? Multiple Choice O On the income statement, noncontrolling interest is shown as a deduction from total entity (parent + 100% subsidiary) consolidated earnings. O A parent and a subsidiary are permitted to have different accounting policies. O The noncontrolling interest is classified on the balance sheet in the stockholders' equity section shown separate from the equity of the parent. O While both IFRS and GAAP require a firm to consolidate entities it controls, IFRS defines control more broadly than does GAAP